Market Street Wealth Management Advisors LLC Raises Stock Position in Eli Lilly and Company (NYSE:LLY)

Market Street Wealth Management Advisors LLC increased its holdings in shares of Eli Lilly and Company (NYSE:LLY) by 136.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,812 shares of the company’s stock after purchasing an additional 7,961 shares during the quarter. Eli Lilly and Company accounts for approximately 1.9% of Market Street Wealth Management Advisors LLC’s portfolio, making the stock its 17th biggest position. Market Street Wealth Management Advisors LLC’s holdings in Eli Lilly and Company were worth $10,745,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of LLY. RDA Financial Network raised its holdings in shares of Eli Lilly and Company by 8.0% in the 1st quarter. RDA Financial Network now owns 4,349 shares of the company’s stock valued at $3,383,000 after buying an additional 324 shares during the period. Opal Wealth Advisors LLC lifted its position in shares of Eli Lilly and Company by 7.6% during the first quarter. Opal Wealth Advisors LLC now owns 794 shares of the company’s stock worth $618,000 after purchasing an additional 56 shares in the last quarter. Orser Capital Management LLC grew its holdings in shares of Eli Lilly and Company by 1.7% in the first quarter. Orser Capital Management LLC now owns 2,147 shares of the company’s stock valued at $1,670,000 after purchasing an additional 36 shares in the last quarter. Cooper Financial Group increased its stake in Eli Lilly and Company by 16.1% during the 1st quarter. Cooper Financial Group now owns 1,521 shares of the company’s stock worth $1,183,000 after buying an additional 211 shares during the period. Finally, Contravisory Investment Management Inc. purchased a new position in Eli Lilly and Company in the 1st quarter valued at approximately $501,000. 82.53% of the stock is currently owned by hedge funds and other institutional investors.

Eli Lilly and Company Stock Performance

NYSE LLY traded up $2.70 during trading hours on Monday, hitting $886.58. 212,387 shares of the stock were exchanged, compared to its average volume of 2,926,213. The company has a quick ratio of 1.03, a current ratio of 1.35 and a debt-to-equity ratio of 1.90. The company has a market cap of $842.61 billion, a price-to-earnings ratio of 130.17, a price-to-earnings-growth ratio of 1.93 and a beta of 0.36. Eli Lilly and Company has a 12-month low of $434.34 and a 12-month high of $905.45. The stock has a 50-day moving average of $798.59 and a 200 day moving average of $729.89.

Eli Lilly and Company (NYSE:LLY) last issued its earnings results on Monday, May 6th. The company reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.05. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.94 billion. During the same period in the prior year, the business posted $1.62 EPS. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. As a group, equities research analysts forecast that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Thursday, May 16th were issued a $1.30 dividend. This represents a $5.20 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, May 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is currently 76.58%.

Insiders Place Their Bets

In other news, major shareholder Lilly Endowment Inc sold 92,563 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the transaction, the insider now owns 98,556,247 shares in the company, valued at approximately $79,752,700,634.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the completion of the transaction, the insider now directly owns 98,556,247 shares of the company’s stock, valued at approximately $79,752,700,634.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 772,475 shares of company stock worth $656,838,859. Corporate insiders own 0.13% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on LLY shares. JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Erste Group Bank upgraded shares of Eli Lilly and Company from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. Truist Financial boosted their target price on shares of Eli Lilly and Company from $850.00 to $892.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $885.00 target price on shares of Eli Lilly and Company in a report on Monday, June 17th. Finally, The Goldman Sachs Group lifted their price target on Eli Lilly and Company from $650.00 to $723.00 and gave the stock a “neutral” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, Eli Lilly and Company currently has an average rating of “Moderate Buy” and an average price target of $803.50.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.